Phoenix Technologies Ltd. Announces $13.05 Million Registered Direct Common Stock...

Phoenix Technologies Ltd. Announces $13.05 Million Registered Direct Common
Stock Offering

MILPITAS, Calif., June 29 /PRNewswire-FirstCall/ -- Phoenix Technologies Ltd.
(Nasdaq: PTEC), the leader in PC 3.0(TM) products, services and embedded
technologies, has entered into definitive purchase agreements with selected
new and existing institutional investors to sell 5,800,000 shares of its
common stock, at a price of $2.25 per share in a registered direct offering.
Federated Kaufmann Fund was the lead investor in the offering. The per share
purchase price represents an approximate 22 percent discount to the three day
volume-weighted average price of Phoenix's common stock. The company expects
to receive gross proceeds from the offering of $13.05 million and net proceeds
of approximately $12.0 million, after deducting placement agent's fees and
other offering expenses. Phoenix intends to use the net proceeds from this
offering for general corporate purposes. The offering is expected to close on
or about July 2, 2009, subject to customary closing conditions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070410/SFTU048LOGO)

The shares of common stock are being offered by the company pursuant to its
existing shelf registration statement, which as amended, was declared
effective by the Securities and Exchange Commission on June 26, 2009. A
prospectus supplement describing the terms of the offering will be filed with
the Securities and Exchange Commission, which forms a part of the effective
Registration Statement.

Needham & Company, LLC served as exclusive placement agent for the offering.
The shares of common stock may be offered only by means of a prospectus.
Copies of the prospectus supplement and the accompanying base prospectus
relating to this offering may be obtained at the Securities and Exchange
Commission's website at http://www.sec.gov or from Needham & Company, LLC, 445
Park Avenue, New York, NY 10022.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

About Phoenix Technologies

Phoenix Technologies Ltd. (NASDAQ: PTEC), the leader in PC 3.0(TM) products,
services and embedded technologies, pioneers open standards and delivers
innovative solutions that enable the PC industry's top system builders and
specifiers to differentiate their systems, reduce time-to-market and increase
their revenues. The Company's flagship products and services -- SecureCore,
Embedded BIOS, FailSafe, HyperSpace and eSupport.com -- are revolutionizing
the PC user experience by delivering unprecedented performance, security,
reliability, continuity, and ease-of-use. The Company established industry
leadership and created the PC clone industry with its original BIOS product in
1983. Phoenix has 139 technology patents and 65 pending applications, and has
shipped in over one billion systems. Phoenix is headquartered in Milpitas,
California with offices worldwide. For more information, visit
http://www.phoenix.com.

Phoenix, Phoenix Technologies, Phoenix SecureCore, Embedded BIOS, FailSafe,
HyperSpace, eSupport.com, PC 3.0 and the Phoenix Technologies logo are
trademarks and/or registered trademarks of Phoenix Technologies Ltd. All other
marks referenced herein are the property of their respective owners.

Safe Harbor

With the exception of historical information, the statements in this release
include forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, regarding, but not limited to, the proceeds the
Company expects to receive from the offering and the closing of the offering.
These statements involve risks and uncertainties, including our ability to
close the offering within the specified time frame, or at all, and with all of
the institutional investors that have executed purchase agreements. For a
further list and description of risks and uncertainties that could cause
actual results to differ materially from those contained in the
forward-looking statements in this release, we refer you to the Company's
filings with the Securities and Exchange Commission, including, but not
limited to, those contained in our prospectus supplement and in our annual
report on Form 10-K and quarterly reports on Form 10-Q. All forward-looking
statements included in this release are based upon assumptions, forecasts and
information available to the Company as of the date hereof, and the Company
assumes no obligation to update any such forward-looking statements.

Investor Relations Contacts:

Phoenix Technologies Ltd.
Richard Arnold
Chief Operating Officer and Chief Financial Officer
Tel. +1 408 570 1256
investor_relations@phoenix.com

The Piacente Group, Investor Relations
Sanjay M. Hurry
Tel. +1 212 481 2050
phoenix@thepiacentegroup.com

SOURCE Phoenix Technologies Ltd.

Richard Arnold, Chief Operating Officer and Chief Financial Officer, Phoenix
Technologies Ltd., +1-408-570-1256, investor_relations@phoenix.com; Sanjay M.
Hurry, The Piacente Group, Investor Relations, +1-212-481-2050,
phoenix@thepiacentegroup.com